Questions - selects strategies to achieve these goals, and...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Questions 1. A __sales forecast__ shows potential sales for the industry and a company's expected share of such sales. 2. __ Operating budgets __ are used as the basis for the preparation of the budgeted income statement. 3. The _ Master budget.__ is a set of interrelated budgets that constitutes a plan of action for a specified time period. 4. _ Long-range planning _ identifies long-term goals,
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: selects strategies to achieve these goals, and develops policies and plans to implement the strategies. 5. Lower-level managers are more likely to perceive results as fair and achievable under a _ Participative budget _ approach. 6. _ Financial budgets _ focus primarily on the cash resources needed to fund expected operations and planned capital expenditures....
View Full Document

Ask a homework question - tutors are online